Mexico's Pemex Lowers Expected Oil Output for 2014

Increase in Water and Impurities Cited in Widening Gap Between Crude Measured at Wellhead and as Delivered

By

Laurence Iliff

Aug. 22, 2014 6:05 p.m. ET

MEXICO CITY—Mexico's state-owned oil company Petróleos Mexicanos said Friday that crude-oil output this year would fall to about 2.35 million barrels a day after accounting for water and other impurities coming out of its fields in increasing quantities.

Pemex, as the company is known, said crude-oil measured at the wellhead in the January-to-July period averaged about 2.47 million barrels per day, while the amount of oil obtained...